November 24, 2024 04:38 (IST)
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Arun Jaitley: GST rate finalised, with lowest at five per cent
New Delhi, Nov 3 (IBNS): The Goods and Serivces Tax Council (GST Council), led by Union Finance Minister Arun Jaitley, fixed the GST rate structure on Thursday, according to media reports.
The GST Council has fixed the lowest rate at five per cent and the highest rate at 28 per cent.
The rate structure is 5 per cent, 12 per cent, 18 per cent and 28 per cent.
Tobacco, Pan Masala, aerated drinks and luxury cars will attract 28 per cent GST.
Jaitley has said that there will be a cess of up to 40 per cent on tobacco items.
More details awaited.
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